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Weekly Transportation Update: Wholesale sector sales decline more than inventories in March

In March, economic indicators presented a mixed outlook. Wholesale sales dropped more sharply than inventories, possibly indicating oversupply or reduced demand. Both real exports and imports of goods declined, likely influenced by global trade dynamics and supply chain disruptions. New jobless benefits claims surged, reflecting ongoing labor market challenges. However, mortgage rates fell for the first time in six weeks, potentially boosting home buying. Diesel prices continued their decline, aiding transportation-dependent industries, while refrigerated truck spot rates surged due to increased demand for cold chain logistics. CDL hiring rebounded from a December lull. Despite challenges, total rail traffic increased year-on-year, suggesting resilience in transportation. These varied trends underscore the complexity of today's economic landscape.

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Weekly Transportation Update: U.S. economy adds 175,000 payroll jobs in April

In April, the US added 175,000 payroll jobs, indicating modest employment growth despite a slight uptick in the unemployment rate. The ISM's manufacturing index contracted, while mortgage rates continued to rise, posing challenges for homebuyers. Diesel prices fell slightly, providing relief for transportation industries. Trucking jobs remained stable, but for-hire carrier numbers declined. Truck spot rates showed mixed trends, and Teamsters Canada authorized a rail strike, potentially impacting regional logistics. These events depict a complex economic landscape with both positive and challenging aspects across sectors.

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